Daily Management Review

Qatar to raise $ 4 billion to buy Eurofighter Typhoon jets


07/11/2018


Qatar is seeking to attract more than $ 4 billion from banks to finance purchase of Eurofighter Typhoon fighters. This is reported by Bloomberg referring to sources familiar with the situation.



The Government of Qatar is working with financial advisors on the deal, which will be supported by export credit agencies, the agency's interlocutors said. According to them, the deal can be completed within a month.

The country is also negotiating with banks and export credit agencies of Italy, France and Britain to attract loans for billions of dollars for other defense deals, according to Bloomberg sources.

An official in the Qatari government said that Typhoon fighters "will advance Qatar's strategic efforts to achieve stability," but "the method and mechanism of payment has not yet been determined."

Qatar is increasing its defense spending in the conditions of the blockade by the four Arab states.

In June 2017, Saudi Arabia, the United Arab Emirates, Bahrain and Egypt severed diplomatic relations with Qatar, accusing the country of supporting terrorism and interfering in their internal affairs. In Doha, these charges were dismissed as groundless.

Following the political measures, the Arab states imposed economic sanctions and transport blockade of Qatar.

In December, Qatar ordered 24 Typhoon fighters, the deal amounted to 5 billion pounds ($ 6.6 billion). The first payment must be made no later than the middle of this year.

This order was made after the country announced that it plans to buy from the French company Dassault Aviation SA 12 more multipurpose fighters Rafale in addition to the 24 aircraft already ordered. Qatar also agreed to buy 36 F-15 from Boeing Co.

source: bloomberg.com






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